Adoption of IoT by telecommunication companies in GCC: The role of blockchain

The Internet of Things (IoT) has become essential for business. The adoption rate of IoT has dropped recently and this could be due to security, privacy, and trust issues. Blockchain (BC) has the potential to mitigate the risk of security, privacy, and trust. However, few studies examined the integration between IoT and BC in the context of developing countries. The purpose of this study is to examine the predictors of IoT adoption by telecommunication companies in the Gulf Cooperation Council (GCC). In addition, the study aims to examine the moderating role of BC as well as the effect of using IoT and BC on the competitive advantage of companies. Based on technology acceptance model, social exchange theory, and resource-based view, the study proposed that security, privacy, trust, communication quality, perceived ease of use (PEOU), and perceived usefulness (PU) affect positively the adoption of IoT. BC is proposed as a moderating variable and expected with IoT to affect the competitive advantage of companies. The population includes all the telecommunication companies in GCC. Data was collected using purposive sampling from IT professionals. The results of data analysis using SmartPLS showed that security, privacy, trust, PU, and PEOU positively affected the adoption of IoT. BC and IoT adoption have a positive effect on competitive advantage. Further, BC moderated only the effect of security and privacy on the adoption of IoT. Services providers must enhance the security, privacy, and trust of IoT services by deploying BC technology. Effective integration of IoT and BC will lead to the achievement of competitive advantages.